You may have received a promotion without a pay raise, but you should know your rights. This can be a good way to increase your professional profile and to show appreciation for your hard work. Additionally, it can cause burnout. Before accepting a promotion, make sure you understand all implications.
Getting a promotion without a raise is common for HR managers
OfficeTeam's study found that 39% of HR managers agree with the idea of a promotion, even if it does not result in a pay rise. This is a 17 point increase since 2011. Lindsey Pollak a career expert says that getting promoted without a pay rise can be good if it aligns well with your long term career goals.
However, not every promotion comes with a salary increase. 39% give promotions without a pay increase. This is a problem because it is common for employees to be resentful about getting promoted, and push back for a higher paycheck. This can be reversed by looking at the practices of your company.
It can help build your resume
An increase in pay can help you build your professional resume. It will not only add a new title on your resume but it will also broaden your perspective and help clarify your career goals. Before accepting a promotion, it is important to thoroughly research it. Make sure you are clear about the benefits and the cost of the extra work.
These days promotions without raises are more common as companies seek to save money while filling open positions. As a result, companies are expecting their employees to perform at higher levels for less money. It is vital to explore new opportunities and acquire new skills when faced with these conditions. You can always review the compensation offer later.
It can cause burnout.
If you are looking for a promotion but not a raise, it is worth carefully weighing the potential benefits. It is important to consider how much equity your company has, which benefits you are most likely to enjoy, and whether additional support is needed. You must also be able articulate what you have accomplished and what others have to say about you.
Burnout is a serious problem in the workplace, and you should seek to prevent it. To encourage employees to take time off, set boundaries. Encourage them to take vacations. Digital always-on culture can lead to burnout. For those who want to avoid burnout, it's important to have healthy boundaries and a supportive system of management. It's not as simple as it looks, however, to avoid burnout it takes practice.
It can be a nice way to reward yourself for a job done well.
There are many ways you can be recognized for your hard work. It's not difficult. Some companies have rigid guidelines regarding raises, while others aren't as rigid. The company might offer extra responsibilities, or even a bonus, if a promotion doesn’t include a salary hike. An annual bonus or additional vacation days are two other examples of promotions that don’t include a raise in salary.